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Local Government (Rating) Act 2002

Replacement of rates and miscellaneous matters - Replacement of rates - Particular circumstances

129: Replacement of postponed rates

You could also call this:

"What happens when your postponed rates need to be updated and the interest changed"

Illustration for Local Government (Rating) Act 2002

If you have postponed rates that are not yet payable, this section applies to you. You need to adjust those rates by the amount of an excess under section 126 or by the amount of a deficit under section 127. The local authority will then adjust the interest charged on your postponed rates accordingly.

When the replacement rates are set, your postponed rates must be treated as adjusted. This means the local authority will change the amount you owe based on the excess or deficit.

The local authority is in charge of adjusting the interest on your postponed rates after they have been adjusted.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM133188.

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Part 5Replacement of rates and miscellaneous matters
Replacement of rates: Particular circumstances

129Replacement of postponed rates

  1. This section applies to postponed rates that are not yet payable at the date on which the replacement rates are set.

  2. Those rates must be treated as adjusted—

  3. by the amount of an excess under section 126; or
    1. by the amount of a deficit under section 127.

      1. The local authority must adjust the interest charged on the postponed rates accordingly.